Och-Ziff Wins When You Lose as Fund's Indian Casino Bets Pay Off

  • Firm has invested about $250 million in tribal gaming
  • Leases slot machines and gets as much as 20% of net revenue

WinStar World Casino and Resort.

Photographer: Peter Malinowski/InSite via Koch Communications

Cheryl Smith, barely five-feet tall with close-cropped black hair, knows about tough times. For most of her 11 years as chief of the Jena Band of Choctaws, the only funds for her 325-member tribe were meager federal handouts and a tiny profit from a liquor store called Twisted Feather.

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